T-Mobile, the parent company of well-known telecoms giant Deutsche Telekom, has revealed its plans to start mining Bitcoin. The company revealed its plans for mining at the BTC Prague Conference in June.
Dirk Röder, The head of Web3 Infrastructure and Solutions at the company stated that “We will engage in digital monetary photosynthesis soon.” This development is also occurring at the same time that US mining firms have set a new record. $22.8 billion market cap This month,
You may also like: Trump Says US Will be Bitcoin Mining Hub If He’s Re-Elected
T-Mobile’s Deutsche Telekom to Mine Bitcoin
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/US-Bitcoin-Miners-Hit-Record-228B-Market-Cap-Says-JPMorgan.jpg)
Bitcoin mining has had a turbulent few years. It has indeed fought against bull markets and the long-awaited Bitcoin halves in 2024, which reduced BTC rewards to half. However, this reality hasn’t deterred Europe’s largest telecom company from entering the market.
Deutsche Telekom, T-Mobile’s mother company, announced last week that the company will start mining Bitcoin. This announcement was made at BTC Prague, last week. It is an important development in terms of the continued involvement in cryptocurrency by the company.
“Since 2023, we [have been] running a Bitcoin node and we are running Bitcoin Lightning nodes as well,” Dirk Röder told attendees. “With a heart full of… pride, I would like to let you in on a little secret; we will engage in ‘digital monetary photosynthesis soon.”
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/T-Mobile-Parent-Company-Deutsche-Telekom-to-Mine-Bitcoin.jpg)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/T-Mobile-Parent-Company-Deutsche-Telekom-to-Mine-Bitcoin.jpg)
You may also like: Deutsche Telekom, T-Mobile Parent, Launches Ethereum Validator
When asked to clarify, Röder revealed the company “will” The leading cryptocurrency will be mined. This decision is part a growing sector interest that dates back to at least 2022. The firm then announced its support for Ethereum, running validator-nodes.
The company also started running a node of validation for Polygon Polkadot and Celo. This participation led Deutsche Telekom to invest in the native tokens of these networks. Bitcoin mining is just the latest expansion of digital assets.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru